Indian court lifts ban on Vivo bank accounts in money laundering case

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FILE PHOTO: A man cleans a screen displaying a phone model of Chinese smartphone maker Vivo inside a shop in Ahmedabad

NEW DELHI (Reuters) - An Indian court on Wednesday lifted a freeze on smartphone maker Vivo's bank accounts imposed by the country's financial crime agency and ordering the Chinese company to provide a bank guarantee of $119 million, a lawyer for the company told Reuters.

In a filing to the Delhi High Court in the capital, Vivo India had said it would not be able to pay statutory dues and salaries, listing 10 affected bank accounts and saying it needed to make monthly payments of 28.26 billion Indian rupees ($355 million).

(Reporting Suchitra Mohanty in New Delhi, Editing by Louise Heavens)

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